GS

McBurger

Yes, you could also take worse ones half a decade later. Your point? Not everyone has the latest and newest phones, and not all phones had good cameras. I still had an iPhone 3GS around 2010/11 and its camera looked bad like this, even though other Motorola phones of the time had much higher MP resolution.

ChowCandy


Overkillus

You are partially right but what they care about is price action, no matter if up or down. Essentially how many other people want to bet on something. GS does not list an item because they believe it’s gonna go up, they list something because it’s unclear where it will go and other people will bet on it so they can collect fees.

Tripleawge

That’s a fallacy. GS only ever advises and speaking as someone who works in finance closely with a Top 5 investment bank’s research team I can confidently tell you their “expert recommendations” change more than a leaf’s sides do in the wind

throwaway92715

Well they lose business. I mean, I doubt GS is concerned about losing clients over an Ethereum ETF, because that's probably like 0.00001% of their revenue, but at scale poor performance of speculative assets can spell trouble for an investment bank.

benjaminchodroff

That’s not how Bitcoin works. GS, MSTR, BR can buy as much as they want… Bitcoin will still be managed by the decentralized miners and allow anyone to self custody and transact. It is a salable asset globally, so the U.S. market alone does not determine the price.

DaRunningdead


Anthropocene700

This strikes me as a fundamental misunderstanding of how government debts work. There's a reason why governments are lenders. They issue a currency and use it to pay people, and then create demand by demanding taxes in their own currency. The US government's debt is issued in dollars and the US government mints dollars. They can print as much money as they need to, it's not possible for them to become insolvent in dollar terms. [modern monetary theory explanation](https://youtu.be/E5JTn7GS4oA)

myweaponofchoosing

Set some buy orders under 0,5 it's a really good price to get in on IMO. The GS1 partnership, among others, make it a really interesting project.

kg160z

“I don’t believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take it violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can’t stop.” – F.A. Hayek 1984 Aged like fine wine. Thank you for the link. Could you explain why getting off the GS lead to this? Just fairytale printing and loaning essentially? Hard numbers mattered less and the terms of growability become looser?

Knosh

Crypto tax rules don’t care about final balance—just the gains on each transaction. If you made a bunch of trades, each taxable event (buys, sells, swaps) could trigger capital gains, even if your overall portfolio didn’t grow. Good luck regard, you should probably either get to work sorting it, pay a CPA thousands, or pay the IRS $100k. 

DrXaos

The US Federal Reserve is not a private company, its creation is in US Code unlike a private company. The US government appoints the managers (Board of Governors) and law sets the basic policy, and any profits are owned by the US Treasury. The US Federal Reserve is a US government agency, but its employees outside the Board of Governors are not GS scale so there is more hiring flexibility. Similarly to how most employees at a US National Laboratory are technically reporting to a contractor managing the laboratory and are not constrained by US Government civil service regulations, but the contractor is selected by the government and can change and the government owns the facilities and policies.

nezeta

To be fair, the reception of the first iPhone wasn't that good... It was't sold in my country but apparently Apple had to fix a bunch of issues and halve the price with 3G/3GS.

Fear_Blind83

You bought the BTC from Circle Bitcoin, sent it to a private wallet 1Ngo54bwo3mcztVMJ1xsrB99WjTp4J3dPr and from there you sent it to 1GS5HFhrg12Qp71tyw127LGzw4me3y1eFG which belongs/belonged to a DarkNet Market called Nucleus Marketplace. Ring any bells?

Amber_Sam

>I suspect that the exchange is coinbase but have no proof. That's no matter, you sent the coin to the 1GS5H.. address. You should have keys from that wallet, not the exchange.

snakeo087

I’d seriously look into **OriginTrail TRAC**. It’s not just another crypto; it’s a project with real-world applications and partnerships that set it apart. OriginTrail powers the Decentralized Knowledge Graph, which organizes and secures data across industries like supply chain, healthcare, and even AI. With governments and major organizations like GS1 backing its tech, it’s already proving its value in the real world. At its current market cap, there's still significant room for growth. It’s one of those projects where the fundamentals actually back the hype.

snakeo087

yes, Origintrail has partnerships with the EU and involed with projects such as GS1 system a global standard that works with US gov.

N3333K0

Litecoin posting about GameStop? What’s in the pipeline? And if GS will accept litecoin, I feel like there are plenty of better currencies to accept… stellar? But it is adoption so I can’t complain if it happens…

JimblesRombo

71% claim is based on a change of $418M -> $718M worth of btc from august to now corrected headline: GS increases bitcoin holdings 14.5% as value increases 50%

idlersj

Oh, and it has the inventor of Metcalfe's Law as an advisor. And speakers from Amazon, GS1 and more at their upcoming conference \*Focused on their product\* - a Decentralised Knowledge Graph that is getting 80-100k transactions \*per day\* on it with a forecast ramp up to \*Millions\* of transactions per day in the next version of the network, coming over the next few months

Obsidianram

GS looking for bag holders...

aspiringalpinisto

Yeah guys this "$400M" number includes client assets -- this news is no indication that GS actually believes in Bitcoin .... it's misinterpretations of the news like this that make the bitcoin community look like fools ffs

aspiringalpinisto

Help me understand this -- does GS hold it on it's own balance sheet as a proprietary asset? Or did this position show up on one of its financial forms simply because some wealthy dudes in their private wealth division wanted to hold it? In other words, does this disclosure actually mean that GS is buying and holding Bitcoin for it's own gain or could it just be a reflection of how it's clients are invested?

Nikhil_2020

What % is 600m of $70b ETF market share ? Also 13F only shows GS and MS holding in to their own books which could be their money or could be client money on their book. You don’t know this from 13F

zxr7

Nope, it's buying 40cents of a bitcoin with all GS' assets. A good start nevertheless.

HoldMySkoomaPipe

Shocked that nobody has provided the correct answer. The correct answer is that firms like MS and GS don't usually take directional trades like rookie investors. These positions are opened (long, spot) so they can collect basis trades (by shorting futures premium). Net price impact is neutral, but adds to OI. Source: I work for an institutional investor.

inadyttap


goldyluckinblokchain


inadyttap


nicog67

GS to release 3 tokenization funds this year. Bullish for RWAs

Ok_Statement1359

Everyone who made their projects with crypto, tokens and automatizations. Read some, google it There are so many projects from Stacking, Games, AI, Metaverse, ETC. GOVS - China, S America , Some Arabic countries. Banks - JP Morgan was one of the first legacy banks to embrace crypto, releasing its own stablecoin in 2019. Other financial institutions, like Bank of America and Ally Bank, have begun allowing their customers to interact with crypto businesses.  For example, Goldman Sachs has already [unveiled GS DAP](https://developer.gs.com/discover/gs-dap), their native blockchain-based tokenization platform. 

Cunning-Linguist2

This is why the big guys (BKRK, JPM, GS) are buying up ETH like crazy. They understand it's value for much larger scale projects (stock clearing in real time, cheap and trustable escrow accounts, etc) so they want in on it. None of them alone can own it but a large number of them could use a lot of the blockchain for what they want to accomplish. With this comes even more efficiency with new rollouts. I would prefer the blockchain be used for actual productive purposes and not stupid meme coins.

Sohelik

We talked about this in this sub thousands of times this year, still, those numbers have no future. New customers will never chose them. GS customers will gradually leave until only lazy people, people who only buy forget, insiders... Are left. Their next 10 years will be a challengue, they have to wisely invest their revenue and Ill look how much of the market can they bite from now on. Lets see if they lower the % or starts other crypto funds. Im actually interested in what they will do.

mutinomonem

I'm not going to let any one who's primary interest isn't my family hold my families wealth. I don't care how anyone else justifies their laziness. All those US banks everyone is thinking are buying bitcoin they are just APs for the ETFS: https://www.investopedia.com/terms/a/authorizedparticipant.asp >An authorized participant is an organization that has the right to create and redeem shares of an exchange traded fund (ETF). Traditionally, authorized participants are large banks, such as Bank of America (BAC), JPMorgan Chase (JPM), Goldman Sachs (GS), and Morgan Stanley (MS). Authorized participants increase the transparency of markets by keeping ETF prices close to their net asset values. Multiple authorized participants help improve the liquidity of a particular ETF. >When there is a shortage of ETF shares in the market, authorized participants create more. I know, I know, we all trust they won't fractionally issue shares. Until they do, of course.

cooltone

1. is not that useful as it assumes linear growth. 2. Is in my view a misinterpretation of G. Santostasi's observation. GS observed that when BTC price vs time data is observed on a log-log scale price growth looks linear with regular departures from the linear growth, but always returning to the linear growth line. This is observation, everything on top of this is interpretation. The Fair Price stated in 2 is in fact the 50% price line - over the lifetime of btc for 50% of the time the price has been above the line. An alternate assumption of Fair Price is a Metcalf's Law estimate - the basic linear growth line. Anything on top is market speculation and volatile to risk and FOMO.

underwaterthoughts

‘We want to keep the price low whilst we buy more’ GS, probably.

ellis1884uk

Well it’s even better/sweeter now my GS (now ex-GS) and Fidelity friend their institutions sell it! 😂 I will do a major post one-day it’s been a proper ride.

ellis1884uk

I worked for multiple hedge funds in early days of bitcoin they all laughed. My housemate was working at GS and he laughed too. Joke on them all now as I have out performed them all and made millions and retired at 37.

cryptogrip

Buying pressure has been at least equal to GS selling and clearly it's been greater, otherwise we'd never have been able to get over ATH before a halving. We've neve been  in better shape. Ever.

cryptogrip

Yep, typical for GS lately. Nothing to be concerned over.

CryptoBehemoth

Most of the answers I read are either for obscure projects that are probably just waiting for the right opportunity to pull the rug, or for big ones that are steeped in traditional finance and will end up just being more of the same. The truly good projects with actual use cases are few and far between in crypto. One of the only ones I have found so far is OriginTrail's decentralized knowledge graph. They are using blockchain for what it actually is: a database. OriginTrail's product was built with supply chains in mind. The idea is to break the closed silos approach that most companies have been using since forever. Right now, it is very difficult for different actors of the supply chains to build cross-compatible automated systems, because everybody uses their own data management protocols. Some efforts have been made to standardize data formats, such as the GS1 standards, but it is still far from perfect. With OriginTrail's blockchain, hopefully one day everyone will be able to store, use and share their business data as they see fit, in a format accessible to all. I doubt it will ever be as prevalent as this, but it's the ultimate aim. And hey! We'll never know if we don't try 🤷 OriginTrail have been using blockchain since ~2016 iirc, but they were around long before that. As early as 2008 or 2009, they were building similar tools for the dairy products supply chain in Europe. Over time, their vision has expanded to all supply chains, not just dairy or european ones, and then later to AI when they realized that their data storage infrastructure was perfect for AI training data. Anybody can produce data, store it and commercialize it on the OriginTrail blockchain. Tools were put in place to help authenticate data and ensure its quality. Like most crypto projects, it uses its own coin, TRAC, for internal transactions. Unlike most crypto projects, though, it is not well-known even after all this time because they simply aren't marketing anything. Some partnerships they have landed so far off the top of my head: in 2022, the World Health Organization created a COVID-19 repository for every supply chain related to sanitary products used to handle the pandemic, and they had the whole thing run on OriginTrail's DKG. Walmart have been using the same tool to manage inventories across North America for a few years now. And if I'm not mistaken, PAX Technology, considered the leading point-of-sale provider in the world, also partnered with OriginTrail a few years ago to develop new products. And the craziest thing about all of this? I still barely ever hear/read anything about OriginTrail or TRAC.

idiotbyvillagewell

>100 BN AUM. Say half is employee, but still >50 BN unsuspecting idiot money. Only JPM or GS should wield such power

EntertainmentOk3425

GS Investors by large cash out now that it's finally possible, not just directly flow to other ETFs. So much of Blackrock's inflows are organic as they prepared their existing clients and take on new clients with their marketing all the time.

ResponsibilitySea327

What do you expect from a GS stooge?

debtfreegoal

People who bought grayscale at a discount, now selling and buying ETFs. GS has to sell BTC to cover outflows. This is end soon.

Sudden-Turnip-5339

>Washington Mutual Absolutely, I think the risky play here is no diversification. For every person who had 100% of their wealth in WaMu, there's another who had in in Chase, BOA, MS, and GS. ​ The idea here is to diversify enough that if Chainlink where to fail outside of one's control, that their wealth doesn't collapse with it, instead just falling. The barrier to entry is also slightly mitigated with many brokers offering fractional shares, but I get the psychological barrier to not owning full stocks. ​ I mentioned in another comment how my take on percentage of crypto is correlated to how comfortably sleeps at night; my take is if the last thing you do is check crypto and first thing you do in the morning is check it, you quite likely have too much in it for your personal risk tolerance. ​ Two different people can put 1000 but for each individual that 1000 means different things.. For the first one it may be giving up upgrading to the new iPhone and keeping last years, for the other it may be making rent/putting food on the table, or not. If your crypto portfolio is keeping you up at night it is too much. ​ As a side note, the difference with stocks is the FDIC insurance, but at the same time, there are the Sears of the world that collapse with not many shareholders getting their cut of the pie - again in this scenario, don't put all the eggs in one basket. For every regarded play there's a safe play like Bill Gates' diversifying his portfolio away from MSFT, and losing out on trillions of dollars - but at the end of the day, guarantee you Bill understood Warren's take on diversification and it helped him sleep better at night, at the same time it could've played around differently and him losing all his worth - think Blockbuster, Netscape, Napster (now we've got Netflix, Spotify/Apple Music, etc.) Or similarly, Nokia or Blackberry, vs current giants Apple or Samsung

GoodShibe

I'll state right off the hop that I'm not defending these practices merely highlighting that there's a very simple economic reason for the success of these coins: Low investment but high risk/return. There's a lot of anger and ideological bewilderment in this space when there really shouldn't be. We don't have to like it but it makes a very simple kind of sense. You get an opportunity to buy into a blue chip like Bitcoin when it's low, you maybe 4x your money when it pumps but as the coin's price threshold grows, the chances of even doubling your money diminishes. A single Bitcoin right now is $60,000+ USD so to double your money Bitcoin needs to go to $120,000 per coin. Yikes! Now look at that price relative to the standard income of other countries in the world. If you make the equivalent of $100/month (or maybe have that left after bills, etc) would you honestly throw your money into something like Bitcoin? Especially if you had no ideological dog in the hunt? Probably not. Especially if you can throw your money into a bunch of fly-by-night "penny stock" cryptos. Let's say there's *maybe* a 1% chance (pulling that number out of my ass) that your $100 blows up into $10,000 or more. You're basically playing the lottery but with far, far better odds. That's why these coins that are *clearly* rug pulls continue to thrive in this space: the people doing these scams know that humans love easy money. Why learn how/why an established coin actually works at all if you're just here to spin a wheel at the casino? Again, to be clear, not defending this practice, I'm only saying that the financial incentives are pretty obvious. To the people who are upset that their projects aren't blowing up in the way they like? Well, perhaps they should just accept that there are all kinds of people and that those who are "here for the tech" are incredibly valuable and should be attracted and cultivated with great care. Instead of being grumpy we need to understand that in a global market place where people are given unlimited access to a digital playground there's a not-small segment of the population who choose to try and meet their more primal needs first: easy money. Speaking for myself, I used to get very upset as I watched people YOLO into coins that were clearly scams but now I see it just like someone buying hundreds of dollars of lotto tickets every week - but not like organized, national lotteries, more like at the shifty guy in the cardboard box at the end of the street. It doesn't mean that I stop warning people but - and this is important - if *we* truly believe what we say when we talk about "financial freedom" that also means we have to (if grudgingly) accept that people are free to make bad decisions with their own money and if you want people to be here "for the tech" then the onus is 100% on you to attract them and win them over. Thank you for reading my novel, I'm going back looking at silly dog memes now. I hope you have a wonderful day! GS

RemainingEye

In May 2013 I bought a Netgear Prosafe GS108 Ethernet Switch from Roger Ver's BitcoinStore for an scant 0.47345 BTC -- Not to mention the 0.33 BTC shipping fee. Grand total of 0.8BTC -- Worth about $105 at the time... I did replenish though. Always replenish.

Amp_Juicer

Origintrail (TRAC) GS1 and the British Standards Institute are using their DKG, they are working with Fortune 500 companies already, and they are involved with 40% of US Imports, You can scan their barcodes on food products now (currently in Slovenia I believe but to expand across Europe) to track the food's journey, they are working in supply chains but also now EU construction projects, Pharmaceuticals, now working on a research database, metaverse gaming. All of this is live and being worked on, real use. I would argue it's the most adopted and used AI in crypto by real enterprises. They are having a joint meet-up with Google and Google headquarters just this month. [Link to their site](https://origintrail.io/) which expands more into their solutions and a lot of partners working with them.

Monemvasia

How on earth the shareholders aren’t raising hell is beyond me. If GS decided to do the same thing I gar-ron-tee there’d be shareholder lawsuits.

mehoart2

I just traded in my 3GS for $50 (which then went to BTC DCA) hahah

Cool_Adagio_2564

Wondering.. If Greyscale plans on staying in the game, why not play to win and go for low fees like the other etfs? Why lose all these customers? What are the odds of GS being bought out by BlackRock in the future? If so, what’s the point of all this music chairs making customers move funds like this? I just don’t understand Greyscales mindset long term.

NoInterview3741

I am glad you are learning more about this! This is the industry I have spent most of my life in, so I am always excited for others to learn more about it! It sounds like you are thinking of a short squeeze. That is very different from what I suggest. To put it another way, let's say IAU Blackrock physical gold ETF was fraudulent and they do not hold the gold they claim. So Hindenburg Research can go take on a large short position. Hindenburg Research is not trying to move the price of IAU they simply want to profit if the price falls. Since it is an ETF like you point out the price should not move due to this short position even if it is very large. Then Hindenburg would start buying in IAU from the open market for enough shares to prove that there isn't enough gold to be redeemed from Blackrock. They would have to buy the shares when the share price was above the NAV to avoid getting new gold entering the ETF. Hindenburg would go to a major bank like Goldman Saches who is an authorized participant and GS ask to redeem their IAU shares for gold. GS would do this for some fee. This should also not move the price unless Blackrock did fraudulently under report the gold that they have. If Blackrock was committing fraud and could not redeem the shares required then the value of IAU would collapse. I don't know of an example of this fraud occurring before, because something like this would make FTX look like small potatoes, but it is theoretically possible. For a crypto example, this is equivalent to redeeming stable coins for USD. If USDC does not have all the dollars they say they do, and you know that and you have a big enough bank account: You could go take out a loan in USDC (shorting USDC), and then start buying and redeeming USDC for dollars. Buy a USDC on the market, redeem for a dollar, buy another, repeat. As long as you buy USDC and redeem them more than the market creates new USDC you'll lower to the number of dollars owned by USDC fund. Once everyone finds out you cannot redeem your next USDC for a dollar because USDC was hypothetically fraudulent, then the value of USDC would collapse and the value of your loan is now worthless and you gain that as a return.

JerryTehFarmer

So both FTX and GS were sellign this whole time?

relesabe

But if they were to buy GS' ETF, would that redemption be necessary? Seems to me if possible that GS lower their ETF fees and allow direct transfer. They would probably not need to lower fees all the way to those of their competitors because of the simplicity for the customer and locking in price -- if the customer redeems and rebuys, their is the chance the market will move against them as well as some transaction fees, I assume. This seems like an obvious idea and perhaps it is already possible but many of GS' customers may simply want to sell.

uhhh-000

Too much information to absorb for the newbies. Anyone that treats BTC like the S&P and just leaves it the fuck alone is usually pretty happy with the outcome... a whale sold off $5B at $49K for a $100M profit that they had been sitting on, waiting to offload for like 2 years. Got into profit and bounced. The GS offload makes total sense too... come March we will be at $50k going into the big H and this will all be way back in the rear view mirror 💋

distressedacorn

Byron and the others should be doing something about it. But all that's been said now that the GS Marketplace has shut down is, "What's coming for loopring will be even bigger than the GS Marketplace. I almost guarantee it."

grey-doc

Contrarian view: The precious metals have been systematically suppressed for decades. This has made them an infamously poor investment in the face of absurdly high inflationary pressure. The suppression is mostly achieved through the use of rehypothecation (multiple promised ounces on a single ounce of reserve) and unregulated naked short selling by the larger commercial banks (GS, JPM, etc). The recent changes in the Bitcoin ETFs to forbid in-kind deposits and withdrawals (cash in cash out only) as well as the selection of JPM with Jamie fucking Dimon at the head (who is heavily responsible for the precious metals suppression) says they are planning to do the same game with Bitcoin as they have with precious metals. I'm not certain that they won't be successful, at least for a while. Since you can't withdraw actual Bitcoin from the ETFs, they can play a paper game all day and hold the price down. I don't think Bitcoin has sufficient safeguarding to prevent this sort of game, since the ETFs aren't actually a Bitcoin game at all. But there may be sufficient linkage to manipulate the spot Bitcoin price on real exchanges. Remember kids, not your keys not your Bitcoin. You can do investment accounts with Bitcoin and self custody the keys. Don't let others hold your keys for you. Super important. These pricks have been stealing from the working class for generations and they would certainly not be creating these financial instruments around Bitcoin if they didn't think they could continue stealing from us. I think eventually Bitcoin will destroy these ill-intended structures just as it destroyed FTX. Don't get caught up in the blood bath. But it might not moon moon until after the next crash wipes out the big commercial banks.

Energy4Days

Always fade GS. The game is rigged

Gdiworog

How could one not understand the question if GS is being forced to use JPM? It’s a pretty easy question. I was only wondering why you asked that question after reading the article you liked. But we are going in circles.

Gdiworog

You really don’t understand do you? I was simply asking you why, reading the article you linked, made you ask the question, if GS is being forced to use JPM. Where ist the connection between the article and your question?

truebastard

>They literally have board and top level execs from the likes of BlackRock, Goldman Sachs and Delta Airlines. I'm not gonna lie, I chuckled a bit when I read Delta Airlines thrown in there with BR and GS.

Disastrous-Dinner966

Managers don't launch new ETFs without already having some projection of what the demand would be based on real surveys and indications of interest from partners and authorized participants. So there are many people that know what the demand is expected to be for a new ETF. These players, if they are authorized participants, will often frontrun an ETF launch by buying up the subject assets and using their stock of the asset to satisfy demand for the ETF shares at launch. For example, GS knows the ETF is coming online, they buy up BTC ahead of the launch and hold it in inventory. On launch, orders for the ETF start coming in from their customers. GS then takes the customer's cash, does something else with it, and instead delivers the BTC it already owns to the trust, profiting on the spread between their purchase price and the current market price, as well as the commissions, and trading fees. So the gain in price we've seen recently could well be just normal frontrunning operations of authorized participants.

tika_dengu

Money is leaving crypto to cash in on the mega stock market rally predicted by GS. We're going down to 25k. People will come back with fat profits around spring next year to trigger the bull run. Plenty of time to accumulate.

idlersj

OriginTrail (TRAC) is the only one I truly believe in, because they've been building non-stop since before I started following them (5 years+). They've got the contacts for real world usage (BSI, GS1, WalMart, Swiss Railways, EU funding, UK govt via TrustedBytes, and more) and are ramping up usage and expanding adoption via new solutions all the time. Pharmaceuticals, Supply Chain, Railways, Import / Export, Certificates. Looks like they've got funding for a new EU aircraft-related project as well. They're actually doing what other crypto projects are fantasising about. Getting traction in the real world. Making a difference to the bottom lines and working processes of actual companies. And the network looks only like it's going to grow. I hold a few other things (LTO, NOIA, DOT, DUSK) - all projects that are building long-term real-world solutions. But at the moment, OriginTrail is the one that looks the most promising. All with an MC of about $200m. This thing is going big. Maybe not next week, but slowly, and then all of a sudden.

RookXPY

I think that when banks go bust because of the mistakes of their many high salaried employees, they should actually go bust. It has been too long since we have seen at least some of those F$%\^ers jump out of windows like in the 1920s when the FED first started. Many of us lost money in FTX, Celsius, etc. and the world continued to turn just the same as if we had been important enough to get a bailout like JPM, GS, Citi, etc. all did.

idlersj

TRAC (OriginTrail). You might've heard of it, but I doubt you really understand it. Huge real world potential, big partnerships in the bag and adoption ramping up. Hitting AI and RWA segments, around since 2017 and building all the time. The first decentralised knowledge graph (data relational structure). Fixed supply, no inflation, good tokenomics. They're presenting at the GS1 Global conference in February, one of only two non-GS1 speakers on the bill. Bob Metcalfe (you've heard of Metcalfe's Law, right? is an advisor.

anonymuscular

Before you went off and launched an ad hominem rant against me, go back and read the thread. I was talking about the privileged position that *today's bankers* (like Dimon) and *today's banks* (like JPM or GS) enjoy. Adoption of cryptocurrency threatens their privileged position because they would need to *compete*. Compete with whom? I don't know... Other banks maybe? We get it - you want to feel clever and superior by taking on a contrarian view. Thanks for educating us!

JoeOpus

Yea BSI was who I was thinking of. Lots of nonprofit institutional bodies like them and GS1 within SCM. Just will take time to get traction, considering most large organizations make major changes at each fiscal year. More traction in the next 2-3 years would be great progress considering the barriers and lack of speed in the enterprise market

hottogo

Yeah I think the reason they are breaking down these walls so effectively is that BSI is the one presenting the solution as their own to clients. BSI is a very big deal in supply chain, being the founder of the ISO standards and the key supply chain advisor to the largest entities in the world. OriginTrail team also work closely with GS1, one of the key global supply chain standards and investors of the barcode. GS1 have released a new barcode innovation that turns barcodes into a url through qr code that also works with OriginTrail to authenticate through blockchain.

Myselfamwar

Uh, GS has been investigated and charged in the past. At least they are audited. Why was CZ so against that?

coinfeeds-bot

tldr; The relevant text for the article title is about multiple U.S. states ordering GS Partners to halt operations, accusing the company of defrauding investors in various crypto schemes. The company, including GSB Gold Standard Bank Ltd., Swiss Valorem Bank Ltd., and GSB Gold Standard Corporation AG, is accused of offering and selling unqualified securities and making material misrepresentations and omissions to investors related to crypto asset investments. The businesses hired sports celebrities to attract attention to their investments. The states of California, Texas, Alabama, and others are pursuing actions against the company for perpetrating fraudulent investment schemes. The company offered digital assets tied to the metaverse's Lydian World and investments in a 36-story "G999 Tower" in Dubai. The executives of GS Partners, including Josip Dortmund Heit, Bruce Innes Wylde Hughes, and Dirc Zahlmann, are directly named in the actions. The company did not immediately respond to attempts to reach them. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Tacitus19

I'm old enough to remember working in The City when GS and other big banks would come out with big fake news about how oil was going to surge to X amount just so they could give their private clients the best opportunity to sell. You can't trust anything they say,

StarScreamer

SEC staff is on SK instead of the GS scale, they're better compensated.

bittercoin99

All you have to do is tack on [company_name] and ["trust"] and suddenly Bitcoin goes from a scam to a world class asset? Man some people are thick. But whatever as long as GS has to hold the underlying.

BTCMachineElf

That's a novelty coin. Worth a few dollars. [Worthless novelty coin](https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcSFAyZllKniIrH0wZksladDWi7zj2SkrMb4yPGfh7sHXDxMpd2AB9AnDGzj6aNMs01k5Bg&usqp=CAU), like you described. [Casascius Physical Bitcoins](https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcTB-GS4CHzDjEYTMLRNwR04xSeAWI5-bkN4xIxLCC94jCuTXRrEKtK6fFUDPRYzl8ajXR8&usqp=CAU), rare and unlikely you'd have it without knowing.

endoftheworld2024

you are smoking crack and shooting up heroin. =) Playing footsie with GS is irrelevant to the bigger timeline. GS now gets lumped in with blackrock and all the others. Nothing changes for the SEC... they are still slow rolling this until the end of time. It just means they can't exclude GS from the evaluation process. As for why they didn't appeal... what's the point if they had a losing case to start with. They already made GS jump through the hoops they could. Now they'll just stick them in the "forever waiting room" with blackrock and the others.

allstarrunner

I rarely come here anymore but if anyone is interested in a project with lots of real world business integration then you should check out OriginTrail (TRAC). Their decentralized knowledge graph is already being utilized by many Fortune 500 companies, they just integrated GS1's new barcode called Digital Link (literally THE barcode used on products worldwide - it isn't a partnership per se because GS1 is simply a standards body so all the major corporations can speak the same "language") On Dec 9 they held the first Decentralized Knowledge Graph Conference with keynote speaker Bob Metcalf of Metcalf's Law (who is a technical mentor to Brana, one of the Original co founders). They had multiple representative from GS1 including Phil Archer. You can already scan a QR code that connects to ChatDKG to "talk" with the product you're interested in to get more information about it (already used for one brand in supermarkets in Slovenia and you can watch a video of it in action) OriginTrail is about 85M market cap right now

Eric_Zookeeper

I have outlasted, outperformed and bested Do Kwon, 3AC, Luna Foundation, Suppoman (from 2016 cycle), GS-rrrrr, the list goes on. BTC since 2013. ETH since $50. Hibernating for the next cycle. Bring it on.

KaydeeKaine

Sounds like he was trying to short or buy lower. Same with GS but then in reverse.

bobdoleadin

Damn 3GS was before btc = we early

Tasigur1

Awesome post, thanks OP. Lol, I remember when I was jailbreaking my **iPhone 3GS** in 2010. Anyone remember those times? :D

broccoliiskewl

what u got an iphone 3GS ?

iwishiremember

Hey SEC, can you approve their GS BTC fund to be fully spot based ETF?

Odd-Radio-8500

You can check this someone put in the daily earlier, might give you some idea. [Post link](https://np.reddit.com/r/CryptoCurrency/comments/164jt8f/two_weeks_left_to_use_up_coins_for_awards_what/?share_id=uBbd28GS48H0uNX5R2sQQ&utm_content=1&utm_medium=android_app&utm_name=androidcss&utm_source=share&utm_term=1)

JGCheema

Yeah That's what i m confused about. This [post](https://np.reddit.com/r/CryptoCurrency/comments/164jt8f/two_weeks_left_to_use_up_coins_for_awards_what/?share_id=uBbd28GS48H0uNX5R2sQQ&utm_content=1&utm_medium=android_app&utm_name=androidcss&utm_source=share&utm_term=1) a week ago mentioned about gold but nothing specific if it will be on-chain or not.

JGCheema

Check this [post](https://np.reddit.com/r/CryptoCurrency/comments/164jt8f/two_weeks_left_to_use_up_coins_for_awards_what/?share_id=uBbd28GS48H0uNX5R2sQQ&utm_content=1&utm_medium=android_app&utm_name=androidcss&utm_source=share&utm_term=1) about code snippets from apk. might give some clue

JGCheema

This was [posted](https://np.reddit.com/r/CryptoCurrency/comments/164jt8f/two_weeks_left_to_use_up_coins_for_awards_what/?share_id=uBbd28GS48H0uNX5R2sQQ&utm_content=1&utm_medium=android_app&utm_name=androidcss&utm_source=share&utm_term=1) 5 days ago

iwishiremember

GS won the appeal against SEC. Gary has to get back to the drawing board.

iwishiremember

Not true per se. GS won the appeal and SEC must review their ETF applications. So the application has not been approved yet.

iwishiremember

GS won the appeal and SEC has to review their spot based ETF application.

iwishiremember

Related to Bitcoin (GS won the appeal against SEC).

iwishiremember

GS won the appeal against SEC.

iwishiremember

GS won appeal against SEC in regards to spot based BTC ETF.

iwishiremember

Probably side effect of GS winning the ETF appeal.

WineMakerBg

Former GS executives couldn't care less about stock, oil, gold or Crypto prices. They have already accumulated so much assets they simply enjoy retirement. All these predictions are just for boosting their ego.

discussionandrespect

Nothing yet, but best believe ETH will outperform GS

road22

I think anyone with any sense is moving their coins off binance. So by the time they go under will only affect the small holders who cannot afford or refuse to take self custody. All the large BTC holders/ traders have left. Binance is forced to sell shit coins to cover BTC withdrawals. The ETF will do great at first but I am willing to bet that Blackrock will find a way to rehypothicate BTC because institutions will not be able to withdraw BTC in self custody. So they will be able to legally create paper BTC and get away with it until BTC becomes really scarce. That is the time there will be regulatory laws that prevent withdrawals of BTC or self custody unless you are a registered bank. This regulation will probably take effect on all GS 20 countries as a last effort to save their dying currencies. There there will be a huge blackmarket for physical BTC , worldwide. Countries that make BTC legal tender will prosper and then all those GS 20 countries will capitulate and that is when BTC becomes the world reserve currency.

chumeanbro

Guys there is a misunderstanding. The court will give a final verdict about GS lawsuit this week (it's not the SEC) and there is a high chance (according to lawyers) that BTC ETF will be accepted in few days. Yeah that's it: BTC ETF this week by law. But when will they get implemented, that's another question.

No-Experience8754

pour resources into their own GS wallet or why not plug into a far superior wallet like immuteables passport?